There is concern among Peterborough Petes alumni whether the team can be competitive in its current form.

A sampling of five Petes alumni living in town suggests support for selling the team to private investors if it makes the team more competitive.

Former Petes coach/GM Dick Todd is not convinced private ownership is the answer. Doug Gibson, Steve Larmer and Brent Tully believe private ownership may be the answer while Dave Lorentz says the option should at least be explored and the current model be re-evaluated.

The Petes were sponsored by the Montreal Canadiens until 1967 when NHL teams were forced to give up stakes in junior teams with expansion and the introduction of the NHL Entry Draft.

The Canadiens, who established a board of directors, primarily local businessmen, to run the team sold the club to that board for $1. The Petes were incorporated as a private company with each board member a shareholder.

The shares hold no financial value as directors do not pay to become shareholders and also do not take money out of the team, they are volunteers. A constitution was created setting out the rules for operating the team with one fundamental principle being preservation of the team in Peterborough. The decision whether to sell the team to private interests is solely at the board's discretion.

A proposal from NorthLight Entertainment to purchase the Petes with an eye to building a new arena in downtown Peterborough, rejected last fall by the board, has created significant discussion in the community about what is best for the team's future.

Gibson says everyone acknowledges the Petes had great success under this model in the past.

"Times have changed and times are changing and there are very few junior teams that remain set up in a similar fashion," Gibson said. "If we can't be competitive with it that way, maybe, it is time to move ahead."

Gibson works as a scout for the Canadiens and has visited many arenas at both pro and junior levels in recent years.

"In Peterborough, we seem to have fallen behind in game presentation and the excitement that is generated," Gibson said. "I know people want to pawn that off that Peterborough is a retirement community but junior is more a family type of league With the kids and younger families it should generate more excitement."

Todd, who coached the Petes to an OHL championship in 2006 and conference final in 2005, thinks good drafting and development are the keys to success, not money. He says he didn't encounter players who didn't want to come here.

"I can't exactly come to grasp what (NorthLight Entertainment) have to offer that would make a difference," Todd said.

"Are we saying 2005 and 2006 were an aberration? That they wouldn't happen again here under the right circumstances? I'd like someone to answer me how it would change."

He doesn't buy that small markets can't compete.

"The teams vying for the championship last year were Owen Sound and Mississauga. This year Niagara is a favourite and they have to be smaller than Peterborough," he said.

Larmer doesn't think it's impossible to be competitive as it is but he think it's difficult. He says the need for a new arena is inevitable.

"Looking at it from a big picture," Larmer said. "A new arena would be a very positive thing. I think private ownership of the hockey club is an essential component to that.

"It would be great for the city of Peterborough and create a bunch of jobs and somewhat revitalize an aging city."

Lorentz says it's an option worth exploring.

"You'd be foolish not to explore it," Lorentz said.

"I'm not saying it's the right way to go but you should always look at options. I think you also need to take a step back and take a look at the value of the Petes.

"This is just one group that's come forward. Right now they've said it's not for sale and if they can make it work that's great but I think down the road, if you wait three, four or 10 years, you're going to have a bidding war."

Lorentz says it may force the Petes board to re-evaluate how they operate and consider adding new blood to an executive which hasn't changed in 10 years.

"It's good there is discussion about it. It brings it to the forefront and forces the executive to take a look internally to see what changes they can make," Lorentz said.

Tully is convinced economics have changed the OHL to a point where the Petes can't be consistently competitive as is.

"Look at it from any business owners standpoint and say 'Do you run your business the same way you did 30 years ago?' I'd say the majority of business owners would say they don't," Tully said. "They may still have the values they did 30 years ago but change has to happen in order to progress."

While it's never been proven and no team has been penalized for it, Tully says everyone in the hockey industry hears the rumours of players being attracted to big money teams with financial incentives. He believes that has changed the playing field.

"Twenty years ago tradition and history played a real part in a player wanting to come here," Tully said. "I don't see, from the information I gather, that that is the case anymore.

"We've rested on our laurels of advertising we have passed along more players to the NHL than any other junior club, but it's just that, it's in the past.

"It's great and something to be proud of but it's not something to sell the future. The way the game has gone and the way players are, in many ways spoon fed by agents, parents are making more and more decisions for their kids.

"It's more and more about what can you promise me or what can you do for me or my boy now. That's not something Peterborough can put on the table."

Private ownership doesn't guarantee success, says Tully, but the right group with the right expertise and resources can help.